Thornton, Colorado Property Taxes
The median property tax rate in Thornton, CO is 0.54%, slightly below both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Thornton at $520,000, the typical annual property tax bill reaches $2,690, aligning with the national median. Property taxes in Thornton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Thornton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Thornton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thornton, Colorado Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$2,808
Ownwell’s Thornton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thornton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thornton to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Thornton, Colorado
Property taxes in Thornton, Colorado, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Thornton is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Thornton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thornton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Thornton's effective property tax rate to other areas in Adams County and the national median. For comparison, the 80023 zip code has the highest median property tax rate of 0.93%, while the 80229 zip code has the lowest median tax rate of 0.51%. Understanding how these areas compare with Thornton provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thornton Tax Rate
0.54%
Average Adams County Tax Rate
0.57%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thornton, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80023 | 0.54% | 0.69% | 0.93% | 1.17% | 1.31% |
| 80229 | 0.39% | 0.47% | 0.51% | 0.56% | 0.69% |
| 80233 | 0.40% | 0.51% | 0.54% | 0.56% | 0.58% |
| 80241 | 0.41% | 0.51% | 0.54% | 0.56% | 0.59% |
| 80247 | N/A | N/A | N/A | N/A | N/A |
| 80260 | 0.51% | 0.57% | 0.62% | 0.82% | 0.83% |
| 80601 | N/A | N/A | N/A | N/A | N/A |
| 80602 | 0.45% | 0.48% | 0.54% | 0.76% | 0.88% |
| 80603 | N/A | N/A | N/A | N/A | N/A |
| 80614 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
| 80640 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Thornton, Colorado
In Thornton, Colorado, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Adams County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Thornton, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Thornton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 80023 has the highest median tax bill at $8,267, while zip code 80260 has the lowest at $1,046.
Average Thornton Assessed Value
$520,000
Average Adams County Assessed Value
$489,000
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thornton, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80023 | $807,823 | $897,534 | $1,047,052 | $1,196,570 | $1,286,281 |
| 80229 | $62,920 | $377,000 | $428,000 | $490,000 | $573,000 |
| 80233 | $423,000 | $460,947 | $501,000 | $560,000 | $620,800 |
| 80241 | $394,000 | $478,000 | $547,000 | $604,000 | $678,000 |
| 80247 | N/A | N/A | N/A | N/A | N/A |
| 80260 | $22,629 | $47,383 | $192,000 | $381,000 | $482,500 |
| 80601 | N/A | N/A | N/A | N/A | N/A |
| 80602 | $506,000 | $593,000 | $678,000 | $756,000 | $833,000 |
| 80603 | N/A | N/A | N/A | N/A | N/A |
| 80614 | $509,000 | $509,000 | $509,000 | $509,000 | $509,000 |
| 80640 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Thornton, Colorado
In Thornton, property tax bills are calculated based on the assessed value of a home, which is determined by the Adams County Assessor. The assessed value is a fraction of the property's market value, typically a percentage set by state law. For instance, with a median home price of $520,000, the assessed value would be a portion of this market price. The tax rate is then applied to the assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including property location, local levies, and specific exemptions for which a homeowner might qualify. In Thornton, the 25th percentile of tax bills is around $2,138, while the 75th percentile reaches $3,297, and the 90th percentile can go as high as $4,760. Comparatively, Thornton's tax rates can vary significantly, with some areas like zip code 80023 having the highest median tax bill of $8,267, while others like zip code 80260 have the lowest at $1,046. These variations can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Thornton Tax Bill
$2,690
Average Adams County Tax Bill
$2,770
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Thornton, Colorado
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 80023 | $6,473 | $7,146 | $8,267 | $9,389 | $10,062 |
| 80229 | $708 | $1,686 | $2,159 | $2,457 | $3,016 |
| 80233 | $1,886 | $2,390 | $2,635 | $2,940 | $3,282 |
| 80241 | $2,160 | $2,403 | $2,856 | $3,177 | $3,664 |
| 80247 | N/A | N/A | N/A | N/A | N/A |
| 80260 | $177 | $382 | $1,046 | $2,114 | $2,758 |
| 80601 | N/A | N/A | N/A | N/A | N/A |
| 80602 | $2,549 | $3,006 | $3,616 | $5,449 | $6,530 |
| 80603 | N/A | N/A | N/A | N/A | N/A |
| 80614 | $2,030 | $2,030 | $2,030 | $2,030 | $2,030 |
| 80640 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell